Company law board regulations, 1991 – Order under section 10(e)(6)(4b) of companies act, 1956 for amendment in regulation 4 of said regulations

ORDER [FILE NO. 10/36/2001-CLB], DATED 7-12-2012

In exercise of the powers conferred by sub-section (4B) and sub-section (6) of section 10(E) of the Companies Act, 1956 (1 of 1956) read with Regulation 4 of the Company Law Board Regulations, 1991, the Chairman, Company Law Board, hereby, makes the following Regulations further to amend the Company Law Board Regulations, 1991, namely:-

1. The Company Law Board Regulations, 1991, in regulation 4,-

(i) in sub-regulation (1), the expression “247” shall be omitted;

(ii) for the second proviso, the following second proviso shall be substituted namely:-

“Provided further that notwithstanding anything contained in regulation 7, it shall be lawful for the Chairman to inter-se transfer any matter pending before a Regional Bench to any other Regional Bench or to the Principal Bench either at the joint request of the parties or for other reasons to be recorded in writing.”